Bank of America and Wells Fargo were among banks that tightened credit standards for mortgages insured by the Federal Housing Administration in a move that may put a crimp in the U.S. housing recovery by effectively eliminating…
U.S. housing starts unexpectedly plunged 11.7% in October to a 519,000-unit annual rate, weighed down by a 47.5% decline in apartment and condo construction. But building permits, a leading indicator of future housing construc…
Applications for mortgages dropped last week, as demand for refinancing loans fell.
The Market Composite Index, which measures total applications for mortgage loans, slipped 14.4% from a week earlier, on a seasonally adjusted basis. The figure does n…
Just a few days after the auction of some of Ponzi scheme king Bernie Madoff’s prized possessions, it looks like the building that housed his opulent offices may be heading to the auction block as well.
The owners of Manhattan’s landmark Lipstick Buil…
In a Senate hearing Tuesday, Bank of America vowed to improve its foreclosure operations to avoid more “robo-signing” documentation problems. The bank halted foreclosures in October amid allegations of faulty paperwork and did …